**Singapore exports fall in September, mark 12th straight decline**
Singapore’s exports fell for the 12th straight month in September, data from the Singapore government showed. Singapore’s non-oil domestic exports declined 13.2% last month, following the 22.5% contraction in August, as both electronics and non-electronics exports declined. The drop was mainly due to lower exports to Taiwan, Indonesia, and Malaysia, but NODX to China, Hong Kong, and the United States rose. The Singapore dollar weakened slightly against the U.S. dollar, dipping 0.12% to $1.3687, while the Straits Times Index edged 0.19% higher.
**Country Garden draws closer to debt deadline, as default risk looms**
Country Garden’s entire offshore debt could fall into default if the Chinese property developer fails to make a $15 million coupon payment on Tuesday, when its 30-day grace period ends. Once China’s largest real estate developer, Country Garden narrowly avoided default in early September after it managed to pay $22.5 million in bond coupon payments. Its creditors voted to extend repayments on six onshore bonds by three years. Shares of Country Garden rose 1.37% in the first hour of trading, tracking a 0.35% rise in the broader Hang Seng Index.
**New Zealand consumer inflation hits two-year low**
New Zealand’s consumer inflation hit a two-year low in the third quarter. Consumer prices rose 5.6% from a year ago, slower than the 6% increase in the second quarter, according to Statistics New Zealand data published Tuesday. The figure was still largely above the central bank’s target range of 1% to 3% as prices of everything from food to housing rose. The kiwi dollar weakened 0.44% to $0.5903 as the data supported views that the Reserve Bank of New Zealand may not hike interest rates in its November meeting. Stock markets were a touch higher, with the S&P/NZX 50 Index up 0.07%. The country elected former businessman Christopher Luxon as its next prime minister over the weekend.
**Nelson Peltz’s hedge fund Trian builds stake in Allstate**
Nelson Peltz’s activist hedge fund Trian Fund Management has created a stake in insurance company Allstate, according to a report from Reuters. Allstate has struggled with the fallout from various natural disasters, the most recent of which include the Maui wildfire in Hawaii. The move could increase the pressure on CEO Tom Wilson. The company has posted five quarters of losses. Allstate shares jumped 3.8% Monday during after-hours trading.
**Forget Monday. Gold has been impressive lately, Strategas says**
Forget about Monday’s 0.5% slide in the price of gold. What’s been impressive is how well the gold price has held up in the face of soaring interest rates and a bull market in the U.S. dollar, Strategas Securities’ head of technical analysis Chris Verrone wrote to clients early Monday. Gold last week notched its fourth best weekly advance over the past 10 years, Verrone wrote, and the precious metal has proven remarkably resilient in the face of 10-year Treasury yields jumping 4.5 percentage points since mid-2020, inflation-adjusted yields rising 3.75 points, fed funds 5.5 points higher, and the dollar climbing 20%. Meanwhile, gold is unchanged since then. “Impressive, all things considered,” Strategas said.
**Stock futures open slightly higher Monday**
U.S. stock futures opened in the green Monday night. Dow Jones Industrial Average futures inched up 35 points, or 0.1%. Futures tied to the S&P 500 and Nasdaq 100 added 0.1% and 0.06%, respectively.